Precise Biometrics divests Mobile Smart Card Solutions business


Precise Biometrics has concluded an agreement with German firm IDENTOS on the takeover of its Mobile Smart Card Solutions business area, which includes the business operation involving smart card readers under the Tactivo brand. This entails Precise Biometrics further increasing its focus on the Fingerprint Technology business area and freeing up resources for the development and sales of fingerprint technology. 

IDENTOS will take over all operations within the business area from 1 January 2018, which includes the development of new smart card readers under the Tactivo brand, patents, trade mark rights, manufacturing, sales and customer support. IDENTOS will gradually be introduced to existing customers and partners during the second half of 2017. Personnel currently working in the Mobile Smart Card Solutions business area will be transferred to the Fingerprint Technology business area. As compensation for the divested business area, IDENTOS will pay Precise Biometrics commission on sales of Tactivo between 2018-2020.

“This is a good solution for Precise Biometrics that enables us to devote our full attention to developing our offering in the Fingerprint Technology business area,” says Håkan Persson, CEO, Precise Biometrics. “It is at the same time a good solution for our customers and partners, as IDENTOS will make the necessary investments in the new development of Tactivo products to support future mobile devices.”

“Identos has extensive experience with mobile card readers in the mobile eHealth and Government security sectors and views this agreement as an outstanding opportunity to further develop Tactivo in combination with our expertise in the field of mobile encryption solutions,” says Robert Schneider, CEO, IDENTOS. “We’ll be working in close collaboration with Precise Biometrics to make the takeover of Tactivo as smooth as possible for existing customers and partners.”

The Mobile Smart Card Solutions business area will be reported separately as a divested business operation. Net sales for the business area Mobile Smart Card Solutions amounted to 13.9 Mkr for the full-year 2016. Net sales for the remaining business operations in 2017 are expected to be on par with comparable net sales for 2016, which totaled SEK 83.3 million. The company says it expects a positive net result for the remaining operations for the full year of 2017. 

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Precise Biometrics divests Mobile Smart Card Solutions business
Precise Biometrics divests Mobile Smart Card Solutions business

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